The Dan Bongino Show - The Craziest Media Moment I’ve Ever Seen # 1040 (Ep 1040)

Episode Date: August 8, 2019

In this episode I address the latest insane, anti-Trump conspiracy theory being promoted by talking heads. I also address the continuing trade war with China and the economic weapon they have.  News Picks:Democrat Congressman doxxed one of own donors.  If you still believe the lies about President Trump’s Charlottesville speech then you need to see this video.  MSNBC guest loses his mind on live television. Liberal lunatics have declared the word “clown” to be a “white supremacist” word. Twitter continues to attack conservatives.  Copyright Dan Bongino All Rights Reserved. Learn more about your ad choices. Visit podcastchoices.com/adchoices

get ready to hear the truth about america on a show that's not immune to the facts with your host dan bongino get ready folks get ready take neuroprotective compounds you may need them the dendrites the axons are about to be trimmed there is so much liberal stupid packed into today's show that I'm genuinely afraid you're going to need like an SAT refresher course to gain some of your IQ points back. You may lose after this.

Now you may say, okay, well, why are you even going to talk about this? Right? You may say that, Joe Saino. Folks, because you will never know how to fight back in 2020

unless you know what we're up against and ladies and gentlemen man are we up against some really really stupid people here we go welcome to the damn bonjito show producer joe how are you today all aboard last train to dump track 19 here we go yeah tip the red cap. They'll get you on track 19. Get you on the stupid train soon. I do that up at Amtrak sometimes. Oh, I didn't know where to start. I have to give Paul the

rundown for the show. And there's so many dumb video clips and things. Of course, Joe gets to cheat and see before the show. But really you do have to know what TDS level six Trump derangement syndrome level six, the highest level possible looks like. So we got a lot of that for you. I got that.

I also want to get into some serious stuff. This fight with China is getting a little ugly, but it's important. We're not going to get too wonky into economics, but I do want to explain to you, China could fight back and could launch a pretty devastating weapon, economic weapon that is. So I just want you to be aware of both sides of that. All right, let's get to it. Today's show brought to you by our buddies at iTarget. The iTarget system is the best system out there for improving your marksmanship with your firearm.

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Way off on that one. By the way, thanks to Tuker Flags or whatever sent me customized. Look at this, Joe. Customized Dan Bongino show red flag. So today, we're going to throw some red flags. We're going to be under the hood for a few the entire show today. So yeah, send me going to throw some red flags. We're going to be under the hood for a few the entire show today. So, yeah, send me a yellow one, too. I got all kinds of stuff in this.

Cavill, gadgets, the Dave Cricket, of course, the referee hat from Jose. All right, here's the first story. MSNBC, MSDNC is stunned. President Trump yesterday went out to El Paso and Dayton to visit with first responders and the victims of the tragedies this weekend. Those horrible attacks we saw. President Trump went out there and MSNBC. I want to play his videos versus absolutely stunned at the response.

Check this out. I mean, Jacob, you've been in El Paso talking to the community. What's the feeling there about the president's visit? Eddie Munster here. Eddie Munster here. Well, Ali, given the way that the president has talked about Latinos and Latinos make up the vast majority of the population of the city of El Paso, surprisingly positive is the way that people are responding here in the wake of the shooting. I see calls for unity and a great spirit of together. Again,

we really need that scene. That scene from the hangover. The dopey brother laughing scene. Joe, how has the president spoken about Latinos? What? He hasn't said anything bad about Latinos. What has he said bad about?

So let me get this straight. Because the president objects to policy-wise and apparently ideologically, illegal immigration, that's somehow a knock on Latinos? Now, that's kind of a racist statement to make. So what are you suggesting? That everyone who comes here illegally is Latino? Or everyone in the country here who's Latino is an illegal immigrant? What are you suggesting? That everyone who comes here illegally is Latino? Or everyone in the country here who's Latino is an illegal immigrant? What are you saying?

Because both of those statements have really serious racist overtones to them. What are you saying? And again, it goes back to this liberal dumpster fire of an ideology. I'm not going to spend a lot of time on this because it's just stupid, but I've got a lot of this today. The reaction of the media and the liberals to President Trump. It goes back to this liberal idea that somehow Hispanic, Latino, Spanish, Mexican, Colombian, Venezuelan, Ecuadorian, people from Guatemala, wherever you may be from, Central, South America, Spain,

Spanish-speaking countries, however you choose to identify yourself, whoever liberals choose to identify other people, that if you are a non-white Spanish speaker, you somehow are obligated to vote for a party that wants to take away your freedoms. And if you don't, you must be some kind of an idiot. And it's a huge surprise. In other words, Joe, hispanic voters and latino

voters must clearly be automatons and robots my mother-in-law is colombian my wife's colombian they are not democrats i don't neither one robots no not robots neither uh this again is the it's the very essence of legitimate racism to assume that people who share a common language country of origin or a common culture or past culture that they somehow all think the same now this may sound dumb like dan why are we even covering this because this is legit the guy's honestly surprised that hispanic uh folks in el paso latino folks in el paso he's he's genuinely surprised that they would support the president united states coming out to extend his condolences in the midst of a tragedy folks again the only way to fight this stuff to fight back against this

dreadful sad ridiculous ideology is to point out the fact that it's inherently racist to assume that people who share a culture, language, or country of origin all must think the same way. That's the very essence of a stereotype, you dopes. Did they miss that? Yeah, that dumpster fire, that's spelled D-U-M-B-S-T-E-R. Yeah, there you go. Oh, boy, moving on.

All right, folks, I warned you. If you didn't take your foundation, your B12s, your neuroprotective compounds, fish oil, there's potential you may lose brain cells. We're not done with this. I'm starting you out with the easiest stuff for Joe, right? seen oh yeah this was the mild stuff i just wanted to get that out there because it was uh i i thought a nice gesture for the president to go out there extend his condolences i thought he did a good job i just want to show you the astonishment by the left-wing media let's move on here folks the left-wing media is still propagating this nonsense that the president is in fact a

racist or the president is anti-immigrant. None of this is true. It's not based in fact on obvious political attacks and what they're using it on still. And I hate to keep continuing to cover this story, but I'm still unbelievably on Twitter and in other outlets, seeing media folks, blue check mark type people on Twitter. That means, you know, people have supposed to be verified accounts. Propagating what they call the Charlottesville lie again. That the president is a racist because when he gave a speech after the death in Charlottesville by the neo-Nazi guy who ran down Heather Heyer. by the neo-Nazi guy who ran down Heather Heyer,

that the president said there were fine people on both sides and the president was referring to fine people being Nazis. Ladies and gentlemen, that is an absolute categorical lie. It's creeping up again because, again, the media doesn't have, they can't attack the president on the economy. They can't attack him on breaking campaign promises. So what do they attack him on? Oh, clearly he's a race. That's all they have. Now, big hat tip to PragerU. PragerU, go check them out. Their Twitter account at PragerU. They put together fantastic videos. Their YouTube account, PragerU, is definitely worth your time. They have a video up now that is getting tremendous traffic.

It's by Steve Cortez, who is a CNN contributor. Steve Cortez talking about the lie that after the Charlottesville murder there, that the president said that there were neo-Nazis who were good people on both sides. Listen to Steve Cortez's small snippet from their video. And by the way, I will put a link up to their full content up at the show notes today. I strongly encourage you to watch the whole thing. It is excellent.

Check this out. The press conference itself was raucous. The media was antagonistic. The president was combative. Out of it all, one phrase eclipsed the thousands of words exchanged. The media reported that President Trump described neo-Nazis as very fine people. Only, he didn't. In fact, he didn't even hint at it. Just the opposite, he condemned the neo-Nazis in no uncertain terms. So then, who were the fine

people he mentioned? The answer? He was referring to another group of Charlottesville demonstrators who came out that weekend. Protestors who wanted the Robert E. Lee statue removed, and protesters who wanted to keep the statue and restore the park's original name. This is what President Trump said about those peaceful protesters. You also had some very fine people on both sides. You had people in that group that were there to protest the taking down of, to them, a very, very important statue, and the renaming of a park from Robert E. Lee

to another name. A few moments later, in case there would be any misunderstanding, he makes his meaning even more explicit. I'm not talking about the neo-Nazis and the white nationalists. They should be condemned totally. I, again, I can't encourage you in strong enough terms to go to the whole video. It'll be on our show notes today. We will blast it out to our email list. Please join our email list at Bongino.com.

I'll get this right to you. It's worth your time. Yeah. I included that snippet for a reason because ladies and gentlemen, not only is what the media telling you, what they're telling you about the Charlottesville speech false. The president actually said the exact opposite. It's not my fault.

If you continue to act like a lunatic and a liar and continue to propagate the lie that the president was suggesting that neo-Nazis are fine people. That's your issue. I mean it. That's your issue. to innocent bystanders and propagandize them and get them to believe something is false, to divide up the country and get Americans to hate each other using the president as your beanbag. It's absurd. Did you listen to the speech? Have you ever seen the transcript? Did you know any of that? any of that again i only bring that up again because i've seen it now repeatedly resurface on twitter facebook and in some media channels about the charlottesville fine people speech

that is in fact false these candidates are making this up yep all right moving on hopefully we preserve some brain cells with that one. This one, I'm not sure. Right? Now, you know, Paul and I, we live together. We're married, obviously. Her setup is right outside, but just a little behind the scenes. We don't actually talk that much before the show because she's busy doing her thing and i'm doing mine i'm not kidding when i sent her this cut she goes come on this isn't real i'm like no it's real that she's like dan this this guy really said this this okay let me just give you some background because i promise you this one about 10 of your frontal cortex is going to die after listening this you will have to like scrape out portions of brain tissue. So this guy, Frank Figlizzi,

Figlizzi, I'm not saying his name, we're going to be a joke. Frank Figlizzi, who is apparently a senior level manager at the FBI. Listen, you may, FBI folks, PR, FBI PR, you may want to ask this guy to stop using the FBI name in media appearances after this

disaster. This guy, Figlizzi, goes on MSNBC and has a theory again. Remember this common theme here. The president must be a racist. MSNBC stunned that Hispanic and Latinos in El Paso don't hate him. That the Charlottesville thing is back again. The president must be a racist because he did this thing with the flagpole on August 8th. And here's Frank Fuglisi using some like insane numerology thing to show us that the president really is a Nazi

by doing this. I'm not kidding. Listen to this stupidity. It's a little things and language and messaging that matters. The president said that we will fly our flags at half mast until August 8th. That's 8-8. Now, I'm not going to imply that he did this deliberately, but I am using it as an example of the ignorance of the adversary that's being demonstrated by the White House. The numbers 8-8 are very significant in neo-Nazi and white supremacy movement. Why? Because the letter H is the eighth letter of the alphabet. And to them, the numbers 8-8 together stand for Heil Hitler.

So we're going to be raising the flag back up at dusk on 8-8. No one's thinking about this. No one's giving him the advice, or he's rejecting the advice. So understand your adversary to counter the adversary. Oh, my gosh. Dude. Dude. Okay.

okay uh and i number one it's not half mast on land it's half staff mast is at sea on boats uh but let's not i mean listen that's that's the least of of frank forketta's issues there whatever his name is that that's the least of his problems that he doesn't know the difference between sea and land apparently uh the white house is a floating fortress i guess they're they're flying their flags at half half half mast um so the president can now let me just get a couple things out of the way here because i always like behind the scenes stuff when you go on tv folks if you ever a lot of you out there have, Joe's been in radio a long time. I do a lot of TV, but Joe works generally the same ways. Sometimes there's a little pre-interview

with a guest beforehand, especially if they're a first timer. Sure. Radio and TV. And there's a reason. You don't want the guest to go on the air and curse, say anything stupid.

And what they'll generally do, and this happens, I've been on every cable station that does news, it and this happens i've been on every cable station that does news the big ones i've been on all of them is they'll conduct what's called a pre-interview and in the pre-interview they'll ask you for your pov your point of view what you're going to say on the air um and it's because they don't want to be embarrassed i bring that up because there's a decent chance joe that frank forchetta spoke to someone in a pre-interview and told them this and they sat there in approval and went, yes, that is Heil Hitler. That's definitely what they were doing

by the floating White House flying their flags at half mass. 100%. Heil Hitler, no question about it. That's what they were saying. Holy Moses. how did somebody not catch this and brian williams this numbskull who probably owns a a floating white house i mean he tells stories about everything else this numbskull at nbc right sits there and listens to this guy and it folks we don't ever go godwin on this show because you know, the scourge of Nazism in the Holocaust was a unique stain on humankind that has no modern comparison. It's like slavery. You don't you just don't compare those things to anything else. level manager went on the air and equated flying a flag at half staff at the white house on august 8th with some numerology nuttiness that he suggests that the white house somehow you know

was a wink and a nod to a bunch of nazis is so insane i swear paula am i making this up before the show she's like this is not real i said it's real it's not the babylon b this is real this knucklehead really believes this the part i like is when he says nobody ever thinks of this you know yeah there's a reason for that there's a reason nobody ever thinks of this there's a reason dude oh my gosh do you realize how dumb this is you can now listen i don't know anything about white supremacy i don't know if 8-8 means that or i have no idea i'm proud to say that i'm simply suggesting to you that joe's right nobody says that because i can can guarantee you Donald Trump and his team don't know either.

You think they're sitting around going, okay, flag and have staff August 8th. Let's see. Let's research a Nazi site and eight, eight, or maybe eight. Folks, nobody thinks that. What's next, Joe? I mean, seriously, what's next? Donald Trump will be in the White House. He's got like an eyelash in his eye he blinks he bought eight times he's like eight

times that's clearly a sign to nazis i mean is this guy are they crazy and brian williams yeah frank frank for a cat you are that you just nailed it buddy wow. Who was the booker who booked this guy? If this guy appears on television again, this guy should be banned forever. I'm sorry. I should be. I hear you. I'm not talking about a legal ban. I'm telling you for your business model, which is already broken, and CNN and MSNBC and elsewhere.

You have one or two shows at work. The rest are falling apart. You should never allow an imbecile like this on your show again. Frank Forcado sitting there. You know, you really should have known better. This is clearly a denotation of the HH, which means Heil Hitler. What are you talking about? Are you crazy?

Now, folks, this is the expansion of what i've i've warned you about this a lot this is going to feed into my next piece here when i get this legal insurrection piece of men joe i don't know if you know you can't say clown now either what you call someone a clown you're a white supremacist yeah yeah i didn't get joe didn't see this one joe doesn't see the hard article he only sees the video okay so i get to surprise him with some stuff so i'm just warning you folks clown means white supremacist too i've warned you about i'm gonna get to that in a second i've warned you about this repeatedly the left does this very strategically and useful idiots like uh frank forchetto play into the game. Okay? What they do is they

pretend to have a set of rules about what comprises decent conversation. But they randomly change the rules on a dime to nail conservatives for not obeying the rules they set are the rules.

I've given the examples. I'm not going to say them again, but they do this all the rules. I've given the examples. I'm not going to say them again, but they do this all the time. They'll change the meaning of the word clown. Literally, it's coming up next. They will change the date, August 8th, and half-staff, he doesn't even know the difference, flag flying. That's a new rule now.

And the new rule, apparently, according to Levin, be careful what you do on August 8th, because anything may be a wink and a nod to Nazis. What are you talking about? They just made this new rule up. You get why, right? Not because they mean it. Or Frank Flagato,

he doesn't mean it either. Flagato has no idea. Flagato is falling into this trap of instantly changing a rule to make a connection that doesn't mean it either. Flegato has no idea. Flegato is falling into this trap of instantly changing a rule to make a connection that doesn't exist to make you believe Donald Trump is in fact a Nazi. I'm not kidding. They do this all the time. They do it with, typically it's done with words. words where you find out after the fact that your use of a commonly used word is all of a sudden homophobic transphobic racist misogynist you're like clown clowns yes clown is now the tool of

white supremacists i'll get to that in a second um folks i'm really sorry again i just i want you to be prepared for what's coming. This is happening right now. TDS level six infections, the highest level of Trump derangement syndrome, viral infestation is everywhere now. August 8th is you're a Nazi clown. You're a white supremacist. I mean, next thing you know, I mean, remember you can't make the, you're not even allowed to make the okay side.

Okay. That's a white supremacist. I thought it meant okay. No, it means you're a white supremacist. It does. I'm actually, I'm not even kidding. There are times when I do the zero. I do it like this because of these goofball lunatics.

You may say, well, you're caving to them. I'm not caving to these idiots at all. This means okay. Okay. Okay. Okay. Okay. Okay. A-okay. Okay. I just don't want the message getting lost sometimes

in the sheer lunacy of what we're dealing with right now. Track 19, folks. Track 19. Jeez. Get the red cap. Get the red cap. Get the red cap for Frank Fugliato. Oh, special seating.

Because Fugliato is, believe me, FBI PR, reach out to this guy immediately. Please tell him to stop using your name. And the booker, seriously, MSNBC, that booker needs to go, stat. Can you imagine that pre-interview? Oh, heavens. I've got something for you.

I've got something for you you are not gonna believe listen i've had some bad appearances on cable news over the years when you say something you're like i wish you could have said that better i can honestly tell you i've never had an appearance where i came out there and said listen my numerology is telling me that if you were born on december 4th 1974 that you are clearly a space alien, Krull-like, Thanos-like creature looking to take over the Earth in the Infinity Wars. And the people on the air are like,

the booker would be like, are you a moron? We'll be right back. This is Fox News, you idiot. We'll be right back. Thank you. Cut to commercial ASAP. We'll be right back. Screen cuts to white.

See, there you go. Mess with the camera again. You see that? Yeah. That's what I was trying to do with my arms. Look at that. We're having all kinds of camera issues this week. I don't know if you noticed on the YouTube, I looked a little green.

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All right. Here's a legal insurrection piece apparently now using the word clown is a tool of white supremacists. Which is, oh gosh, that's really, we call people clowns on this show a lot. Yeah. This is a piece by Mary Chastain. Legal insurrection will be in the show notes today. Is's calling Democrats clowns, the new white supremacist slur. But I guess you can still call and depict non-leftists as clowns. Classic double standard.

Folks, here's the background to this story. There is a North Carolina 9 congressional race, North Carolina District 9 congressional race between Dan Bishop and Dan McCready. McCready is the democrat dan bishop ran a campaign ad depicting the clown car alexandria ocasio-cortez and others as clowns so of course um this opponent and others had to retweet an article where what does the left do because again they don't have an actual substantive debate to go back and forth about why the democrats aren't clowns they have to change the rules in the middle of the game remember because if they can't catch it, they're going to make you a racist or a white supremacist

no matter what. Apparently, clown is now a white supremacist word. Well, the legal insurrection piece, they did a little digging, came up with hundreds of examples of liberals calling Donald Trump a clown. But here's one of my personal, and I'm not going to say favorites because it's

pretty disgusting, but an example of, again, how these rules are not really rules. They're only rules that applies to conservatives to kind of put them in a corner. Here is a tweet from the New York Daily News. This is not a joke. This is the actual clowns at the New York Daily News in a tweet on the front cover of their page showing president trump is what a clown the headline the clown who plays kings can't overthrow the bedrock values this nation was founded on 242 years ago today so apparently the new york daily news again by the left's fake rules because they're not really rules but assuming they are rules for a moment by the left's new rules joe it's fair to say right that the daily news engaging in white supremacist type behavior now of course liberals doesn't go no no no no no not us no no i only meant clown when it comes from a conservative

that clown means white supremacy but when we say clown it means like an insult like clown clown like you act like a clown like you're silly like you're stupid like good fellas like what am i a clown to you remember that that's the kind of clown thing we're talking about there. Oh, okay. But when you say, dude, I get it. I get you're trying to understand this, but it just doesn't make any sense. It's not supposed to make sense. My best advice to you before this election cycle begins is to ignore this stuff. Ignore this stuff and just plow right through, ladies and gentlemen, because you will lose your mind trying to adjust daily to these liberal,

I will say clown when I want, I will say what I want when I want, and I will not fall prey to your nonsense rules. And you shouldn't either. You may say, oh, what about what you said before about the okay thing? I'm telling you, that's entirely, it's for a totally different reason. It distracts the show in a number of different ways, unrelated to the leftist re-symbolizing of the okay symbol. Trust me.

I just don't want to get distracted there. You, I'm serious. We're all dumber for having seen this all right moving on speaking of dumb joaquin castro congressman from uh from texas who yesterday thought it was a good idea to tweet out the names and uh employers of donald trump donors in apparently an effort to get them harassed fired whatever it may be has been taking tremendous heat, thankfully. And Castro, this guy is just a complete tool. He's a disgrace to the U.S. Congress.

This is an embarrassment. I explained yesterday the whole, the left, oh, it's public information. Ladies and gentlemen, your address, I got news for you, is probably public information too. I promise you, I'm not going to send your address out on Twitter if I disagree

with you politically and make it easy for people to find you and harass you. Just because you can do it doesn't mean you should. Well, look at this dope Castro. Castro winds up tweeting out the names of, check out this Fox News piece by Brooke Singman.

Joaquin Castro outed his own donors in a bid to shame Trump supporters. This moron who tweeted the names out of these people, some of them donated to his campaign too in substantial sums of money. So now one of them, a guy by the name you can check this out in the piece, Wayne Harwell

who's in real estate, he spoke to Fox News. The only reason I bring his name up or yesterday we kept the names quiet but here's what one of the donors said wayne harwell who's a real estate guy who was excuse me he was one of the um one of the guys who was doxxed says i think some of the democrat rhetoric is more hateful than some of trump's rhetoric he said i think the san antonio community needs to take a real deep look at what castro is doing this is a great line why is he doing this?

He added, if he wants to play in Washington, he should move to Washington. If he wants to play in San Antonio, it needs to at least be sensitive. The rest of the community is sensitive. We're sensitive to both Republican and Democrat views. A lot of us here in San Antonio are independents. Harwell said Castro was drawing hard lines and it was, quote, not helpful. What a colossal craftsman. Yeah.

Castro, that is. And by craftsman, I mean toolbox. What a tool. He tweets out to docs and have harassed names of Trump donors who are his donors, too. Listen, it's time to take the L. He's trying to play tough guy. Here's what's going on, by the way.

I always like to give you a little inside baseball. Here's what I'm getting from some of my sources up there, right? Castro's embarrassed. He's damaged his brother's, Castro's brother, Julian Castro's presidential campaign. He's been pretty much renounced by, not all, but a lot of even left-wing media types who sense that this is dangerous. He understands now that the backlash has been severe even in his own community.

And he's trying to double down to save face. My recommendation to you is Craftsman Castro. It's time to take the L. Fully, 100% apologize delete the tweet promise to never do it again and tell everybody what a fool you are it's the only way to save the remnants

of your broken destroyed reputation folks you may ask too you know two days in a row you brought this story up why are you so concerned about it you know folks in my prior line of work there are some really dangerous people out there. There are really dangerous people out there that, you know, only need a little bit to be tipped over the edge. You don't need to be exposing people's names out there.

There are really sick, troubled people. And for all the nonsense and lies about President Trump's rhetoric, especially the Charlottesville stuff, which is not exactly true, it's false as a matter of fact, this is a direct threat to someone out there by a congressman who should know better. This is dangerous stuff. And if a Republican did it,

I assure you, I would say the exact same thing. Do not, this is a very, very bad idea. All right, moving on. I really been dying to get to this for a couple of days now. It's really important stuff. This battle with China is heating up, ladies and gentlemen. This trade fight is heating up. It's, we're at, we're at, we're approaching tier 10 on a 10-level scale now. What's going on?

Well, as you can see in this Wall Street Journal piece, the stock market stabilized the other day a little bit, bounced back from its fall. But that's not why I put this piece up on the Wall Street Journal. It's Michael Warstorn who wrote it. It was an August 7th piece. I didn't put it up to talk about the stock market. The second part of the up on the Wall Street Journal. It's Michael Warstorn who wrote it. It was an August 7th piece. I didn't put it up to talk about the stock market. The second part of the headline is Wall Street Journal piece is what I want to focus on for a minute. And it's important stuff. The US stocks regain ground. The yuan stabilizes. They're talking about the Chinese currency, which had taken a dive. The Chinese devalued it. Folks, what's going on behind the scenes with China right now? What can happen? How can this break really bad, really fast?

China right now? What can happen? How can this break really bad, really fast? Again, as I've said before, I don't object to what the president is doing. I kind of compare it to our military buildup. And I'll get to the Trump doctrine in a minute. We're trying to put together kind of a coherent Trump doctrine. I think we have one now, but I compare this to the military buildup with the Reagan-Gorbachev years. Reagan understood that, yes, it was going to cost a lot of money to build our military, to build SDI, to build all of these things, but it was enough that the Soviet economy couldn't keep up with us. It eventually bankrupted the Soviet Union, drove them out of business. There was a short-term pain there. The short-term pain was obviously the threat of nuclear war,

but you had the liberal media, I mean, you know, very parasitic in the day, feeding off this negative energy all the time, suggesting, I'm sure you remember this well, Joe, Reagan's a warmonger, he's going to get us into a war with Russia. Actually, he did the opposite. He got us out of a war with the Soviet Union and actually bankrupted the entire Soviet Empire, which promptly collapsed after the Reagan years were done. I have to give Trump a lot of credit for this. Again, I'm not a golden calf worshiper of politicians.

I think President Trump understands that although he's going to take it on the chin with the economy now, President Trump understands that although he's going to take it on the chin with the economy now, that long-term, a freer, fairer trade environment with the Chinese economy, which is very powerful, is our only future. And that he's not going to sacrifice short-term economic gain for a long-term goal. Now, the Chinese are playing hardball. Here's what happened. Here's why that story about the yuan is important. What the Chinese did to make their, because a tariff, as I said in the show on Monday, a tariff is a tax at the border for Chinese products being sold here. It makes those Chinese products more expensive.

Why? Because there's a tax put on them. If it's a 10% tax, you're going to pay 10% more, which does what? Makes Chinese products less competitive against American products. You have one Chinese gavel, you have one American gavel, the Chinese gavel is 10% more because of the tax. People are going to buy the

American gavel. The Chinese don't want that. Why? Because the Chinese are trying to engage in a global economic war to make themselves a manufacturing behemoth. They don't want their gavels to be 10% more expensive due to the tariff. So what did the Chinese do? They devalued their currency, making their currency worth less. And by devaluing their currency, all of the products coming in from China, denominated in Chinese currency before they crossed the border are going to be cheaper because American dollars are worth more than the Chinese dollar was before the devaluation.

You get it? We can buy products now in China because we get more Chinese won for our American dollars because the Chinese government, which is not of an independent central bank, devalued their money. We explained that on the show two days ago, but it's a key point. So you may be saying to yourself now, brilliant strategy. Why don't the Chinese just continue to devalue? In other words, Joe, Trump hikes a tariff 10%, devalue your currency 10%. The Chinese gavel stays the same price. Yeah, you're paying, the Chinese are paying the tax, but the price went down, right?

Right. Because of a couple of things, folks. The Chinese can't do that. Because tens of thousands, if not hundreds of thousands, if not millions of people in China and businesses have some of their debt denominated in U.S. dollars. have some of their debt denominated in U.S. dollars. So if the Chinese completely tank their currency, all of these Chinese citizens that took out loans in U.S. dollars and are still in China are now going to have to pay back twice as many Chinese dollars

as they would have the day before the devaluation if they tanked their currency. Ouch. They can't. The Chinese, they're limited. Now, they can. They can do it. They would absolutely decimate their economy.

So they're limited in what they can do. They have to act in certain bands. Again, I'm trying to give you the upside and the downside because this is going to get really hot before the election. Trying to give you the upside and the downside because this is going to get really hot before the election. These Chinese business owners and some wealthy folks who took out loans taking advantage of low interest rates in U.S. dollars, not in their Chinese currency. They have to pay it back in Chinese currency. But if the Chinese currency is worth less, it's going to take them that much more Chinese currency, one, to pay back the dollar.

They owe in debt. Reason number one, the Chinese right now are really between a rock and a hard place. But there's another reason, ladies and gentlemen. It's not that simple to just keep continuing to lower and lower and lower the value of your currency. By doing so, number one, you force your people to work twice as hard to get the same amount of US dollars. You're basically destroying the value of their currency. By doing so, number one, you force your people to work twice as hard to get the same amount of US dollars. You're basically destroying the value of their labor. But secondly, during this trade war, if these companies leave China because of these tariffs and the Chinese are limited in how much they can devalue their currency, folks, I promise you there's no coming back. At least no time soon. So as I said in another prior show,

who loves us right now? Vietnam and Mexico. Because what's happening, Joseph, these companies are picking up. They're saying, you know what? I'm not going to pay this tariff. Say you have a multinational, a company that's multinational.

You produce products here in the US, products overseas. Those products you produce overseas in China, you're going to have to pay that tariff and raise your prices. Some of these companies say, nah, I'm not interested. We're going to uproot the factory. We're going to put it in Vietnam. We're going to put it in Mexico. The Chinese are freaking out. Folks, when you lose those factories, I've got news for you.

A lot of them aren't coming back. And they're panicking. Chinese goal number one has always been to make themselves a manufacturing behemoth. And once those factories are hollowed out, as we've seen in many portions of industrial America, it is almost impossible to bring economic vitality back to those areas. It happens, but not often. The Chinese are panicking. Now, as I said to you in the beginning of the show, I'm going to move on. I got a couple other things to get to too. It's been a pretty stacked Newsweek. They do have the mother of all economic bombs though. What is that?

I'm talking about the Chinese. Now, this would be a drastic step that would probably destroy any relationship we had with China. They own right now $1.1 trillion in U.S. treasuries. Ladies and gentlemen, if they were to dump those U.S. treasuries back onto the market en masse, the price of those treasuries would collapse. And remember, when you're talking about bonds, yields, the interest rates paid on those bonds move in the opposite direction of the price.

So think about this. If the Chinese were to take a staggering 1.1, they don't have to take the whole thing, even a portion of the $1.1 trillion in US government denominated bonds they have and dump them on the market. Like anything else, ladies and gentlemen, you want to dump the price of something? You create a surplus of it. You want to make Corvettes really cheap?

Make 10 million Corvettes. People will be dying to get rid of them. Supply-demand. Create an oversupply, you're going to dump the price. The price of U.S. bonds would crater. And remember, interest rates go in the opposite direction of the price. Interest rates would go through the roof. So the Chinese do have that mother-of-all economic bombs.

Are they going to use it? I doubt it. Because why, Joe? They own the bonds. They have $1.1 trillion in bonds. If they tank the price of the bonds, they're also going to tank the price of the bonds they have 1.1 trillion in bonds if they take the price of the bonds they're also going to take the price of the bonds they have I'm just telling you

I'm trying to lay out short term long term good bad where this could go no one thought we were going to get into a currency devaluation war either one last thing on this about the Trump doctrine everybody's looking to find a doctrine

the Bush doctrine, the Bush doctrine, the Obama doctrine. These things are very rarely laid out as the doctrine, so to say, but I'm starting to put together in my head. Now I'm by, by no means, am I the first person to think of this?

Many, many smart people have started to put this together to the Trump doctrine, starting to come together, Joe, unlike most presidents in the past, Trump does not separate defense issues. I'm talking largely, not fine granular points, from economic issues. Does that make sense? Like, let me say this a different way.

If you're Trump, get in Trump's head for a moment. Trump's a businessman. Trump understands. There's no question in my mind he understands the threat China and North Korea play with us. He gets it. He understands the threat. Whether you think he's dumb or not, that's your liberal problem. It's not mine.

He's a very bright guy. I've spoken to him. I'm not pretending we're best friends. He's a bright guy. He talks like a guy from Queens, like I do. He's a very smart guy. I've spoken to him. I'm not pretending we're best friends. He's a bright guy. He talks like a guy from Queens, like I do. He's a very smart guy. I don't think he separates the economic and defense spheres. Does that make sense? Presidents in the past have kept those things different. He understands that we don't want to get into a war with China. So he understands with China that if he can make an appeal

on the economic front that, listen, we are in this economic battle to win it, that it will hopefully keep us out of a fight over the Formosa Strait or Taiwan. That enabling China economically to take advantage of us may feed into this

Chinese mentality of defense superiority in the future too. He doesn't separate the two spaces. I'm sorry if this is a little complex, but think about it in terms of North Korea. Maybe it'd be easier to understand. I was over in Vietnam for that North Korea summit. What does Trump constantly talk about with North Korea? for that North Korea summit.

What does Trump constantly talk about with North Korea? The president constantly mentions the fact that the potential for economic development there. He even says, wow, look at their waterfront line. He doesn't separate the two. And I think the way he intends to break the back of the Chinese is not the way Reagan broke the back of the Soviets. You see, everything ties in with a military buildup, although he believes in our military, President Trump.

But he intends to do it on the economic side. He intends to do it on the economic side. Reagan triaged the military buildup first as a way to basically race them out of it, knowing their economy couldn't keep up. So technically conflated a bit, but Trump, I think sees it the opposite way. He intertwined,

he tangles these two together, the economic and the defense space, understanding that if we can beat them on the economic front and get back to a free or fair relationship, it'll diffuse the defense friction we have between the two countries. I don't know. Send me your feedback. I'd love to hear it. I could be wrong.

But I just find that interesting. The more I read about his foreign policy, the more I'm convinced that's exactly what he's doing. All right. Last sponsor of the day. And I got a couple others. Just kidding. Liberals. Every day it's something new with the libs.

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debunking liberal nonsense it's so easy because liberals can never stick to the position. Remember, they change. Here are the rules. Here are the new rules. They claim that principles. When they don't, they lie often and sad. That capital gains indexing conversation has come up again, and it's important. It's important because Chuck Schumer just wrote this letter against it.

Donald Trump is proposing for economic growth that we index capital gains. Very simply, best example I can give you is you have a capital gain on, say, a stock. You're going to pay taxes on your nominal gains on that stock. If I bought the stock for a dollar and sold it for 10, 30 years later,

you're going to pay a tax on that $9. Folks, you really didn't make $9. Due to inflation, you probably made closer to $3 or $4. Depends how long the time period was, right? President Trump is supposing indexing those gains to inflation so you don't pay taxes on the whole amount because you didn't make the whole amount.

Brilliant idea. Very well done. Well, Chuckie Schumer's come out against this. You know, he's a principled man. Oh, yeah. He doesn't like this. I'll show you his letter in a minute. He hates this idea because he doesn't like economic growth.

Apparently, I'm not sure why he would want us to pay taxes on money. We didn't make due to government's poor monetary decisions, right? Well, the federal reserve is not really a government entity. Yeah, sure.

Listen, there's, but it's, it's a disaster over there with their doing too, with our monetary policy. But here's a video of Chuck Schumer. Was this Paul in 1992? Here's Chuck Schumer in 1992.

He must be saying in his video, clearly he hates this idea, right? About indexing capital gains. This is evidence. Yeah, because he's a principal guy, right? Let's play that video and see what he has to say. If we really want to increase growth, there are proposals that we can do.

I would be for indexing all capital gains and savings and borrowing. And that indeed would shift the balance in this country away from too much consumption, too much borrowing and towards more savings and investment over the long run. Huh? Do you hear that? Did you, Joe, did you mess with that? No. Did you cut that that like edit it and it was that like one

of those things where you took separate words and put it together to have Chuck Schumer say something and say you didn't right now that's a clip that's a that's a coherent complete thought uh that's Chuck Schumer in 1992 defending the exact same thing Donald Trump proposed now the reason I bring this up I just this is hat tip Phil Kirpin by the way on Twitter who pointed out this uh this letter Here's Chuck Schumer's letter that he launched out not that long ago here, objecting to this exact same plan by President

Trump to do the same thing, despite the fact that he's actually on videotape suggesting that this will lead to better economic growth, less consumption, and better savings, better savings leading to more investment and higher wages and all that stuff. Schumer had it right in 1992. He only changed his mind, of course, because it's politically convenient and Donald Trump's in office. Showing you again, ladies and gentlemen,

that being a liberal requires you to forfeit all common sense. I'm sorry if you've lost axons and dendrites during the show, but I'm just, again, trying to show you that they just don't care. Truth, honesty, and principles are entirely irrelevant. All right. A couple of quick things I want to get to too. By the way, tune into The Five today, honesty, and principles are entirely irrelevant. All right, a couple of quick things I want to get to, too. By the way, tune into The Five today, please, on the Fox News channel. Be ready to rock and roll today. I will be there co-hosting today and tomorrow, The Five. I will also be on Hannity guest hosting Friday night.

Please tune in. You guys and ladies make me look very good out there. I really appreciate it. We're always number one. We're on there. So thank you very much We're always number one. We're on there. So thank you very much. We were number one in the demo, too, which is pretty spectacular. So the five Thursday and Friday Hannity on Friday night. Thank you very much. More tech tyranny, folks.

Story at the Daily Caller. This is just astonishing. The cesspool Twitter has become. There's an account out there supports Mitch McConnell called Team Mitch. Chuck Ross piece be at the show notes today. Twitter locked McConnell campaign account for posting video of protesters outside McConnell's home. Yes, this actually happened. So Mitch McConnell's campaign team posted a video of lunatic protesters outside. One of them says something like, stab his mother hard out or something like that.

McConnell's team, you get that. They're protesters threatening McConnell. Yeah. McConnell's team posts it like, hey, look at these guys. This is crazy. And McConnell's team gets locked out of their Twitter account. What was trending all weekend on Twitter that they did nothing about? Hashtag Massacre Mitch, by the way.

Folks, Twitter's garbage. It's complete, total garbage. There's some rumors and some rumblings out there. I'd be remiss if I didn't get into this. It's a story up on Drudge this morning that there's an executive order forthcoming from the White House to look into tech bias. I'm all for it. Yep. Let's see what they got.

But this is absurd. Team Mitch is locked out of their account for posting a video of protesters threatening their boss while massacre Mitch trends over the weekend. Crazy. All right. Well, I'll end this Thursday on a little bit of a low note, a high note for me, but a low note nonetheless. Right before we were going live on the show today, I said, Paul, timeout, timeout, red flag. We had to go into the hood for review before the show. I got my old red flags there. We got stuff everywhere. Oh, here's another one. Someone sent this.

Fraud alert. Fraud alert. You like that? Pretty cool, right? Fraud alert. I don't know who sent that. Thank you. It was very nice. You put the names on them somewhere, right? You guys are great. You don't have to send stuff, by the way. I appreciate it. It's very nice of you, but it's kind of funny.

Michael Moore. You know Michael Moore. Yeah. I don't know what you want to call him. Director, whatever it is. I'm going to be careful here where I go with this, too, because I work out a lot, and I'm very sensitive to this kind of stuff, and I mean it. This is kind of an interesting tweet.

The owner of SoulCycle and Equinox, the owner, the guy's very wealthy. He owns SoulCycle. SoulCycle's like a spinning type class, I guess. I've heard of it, but I don't go there. And Equinox, which is a gym chain, is hosting a fundraiser for Donald Trump in the Hamptons. Let me be very careful here, Joe. So here's what Michael Moore tweeted in response to that, his objections to the SoulCycle owner.

It's an exercise place. That's it! Exclamation point. This is from Michael Moore. I just canceled my SoulCycle membership. Okay. All right. Thanks for tuning in, folks.

I'm going to leave that one right there. You do with that what you will. I hope to see you later on the five. Nothing to add. I just wanted to throw that in the end of the show. Michael Moore is a big soul cycle guy. Okay. okay i'm crying all right i'll see you guys later on the five. Don't miss the show.

Take care. You just heard the Dan Bongino show. You can also get Dan's podcasts on iTunes or SoundCloud and follow Dan on Twitter 24 7 at D Bongino.